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Commentary Topic from greenfaucet

Big Fibonacci Level Tagged...What's Next?

After the abbreviated Thanksgiving week, both bulls and bears were ready to make a statement.  After all, price levels were at a median number (middle of the range), and one side was likely to take the lead, while the other had probably fallen asleep after a big turkey dinner.  Just following the holiday, a big pop in volatility due to Dubai news scared bulls into a frenzy, yet the situation moderated and it seemed all was good in the world.  For the week, markets finished off at some rather impressive levels (weekly highs for the year).